The market capitalisation of Dhaka Stock Exchange lost Tk 328 billion in just three months of the year as the Covid-19 pandemic wreaked havoc on stocks.
The total market cap of the prime bourse was Tk 3,450 billion on January 23, but gradually it came down to Tk 3,122 billion on March 25, the last trading day before the government-announced lockdown began.
The DSEX, the prime index of the DSE, also plunged 505 points or 12 per cent during the period under review.
The core index lost 1,522 points, wiping out market cap of Tk 1,015 billion in the past 12 months.
The country's two bourses remained closed since March 26 as the government announced general holiday as part of its efforts to contain the spread of deadly coronavirus.
From the very beginning of March this year, the Covid-19 outbreak became the only reason for the relentless fall in stock prices as analysts forecasted the looming impact of the virus on Bangladesh economy.
The DSEX lost 781 points within a week after the first Covid-19 case was confirmed in Bangladesh on March 8 and the index came down to 3,603 on March 18, the lowest in seven years since 2013.
To curb the free-fall, the Bangladesh Securities and Exchange Commission on March 19 fixed the floor price of stocks by calculating the previous five days' average prices.
Under the new system, price of no security will be allowed to hit below its average closing price of five preceding days.
Market analysts said the market was saved from the free-fall due to regulatory measures, otherwise market-cap and index would face big erosion during the period under review.
Meanwhile, the pharma & chemical sector has now taken the lead position in terms of the market cap on the DSE, replacing the banking sector for the first time, as prices of some disinfectants and chemical stocks soared due to rising Covid-19 cases in Bangladesh.
People are buying such goods as experts suggested keeping their hands germ-free to prevent coronavirus, said a leading broker.
He noted that the prices of some disinfectants and chemical stocks are soaring as investors are anticipating brisk business amid rising Covid-19 cases.
ACI Formulations and ACI which supply hexisol and hand wash jumped 33 per cent and 17 per cent respectively in the last five trading sessions before the holiday.
The total market cap of pharma & chemical sector stood at Tk 457.91 billion as of March 25, taking the lead on the market capitalisation chart.
The banking sector's market cap came down to Tk 452.90 billion on March 25, 2020, coming down to second position in term of market cap. Fuel & power sector emerged third as its total market cap stood at Tk 363.70 billion as of March 25.
The telecommunication sector was relegated to the fourth position as the largest market cap company - GP's share plunged 12.20 per cent in three months to close at Tk 238.80 each on March 25.
The telecom sector's market cap dropped to Tk 335.57 billion on March 25, 2020.
A total of 238 companies in 10 sectors accounted for 92.4 per cent market-cap of the prime bourse as of March 25, 2020, according to DSE data.
Currently, 358 issues, including 37 mutual funds, are listed on the Dhaka bourse.
